WuXi Biologics’ ADC Spinout Sees Revenue Surge Amid Biosecure Threat

Revenue Growth:
WuXi Biologics' ADC spinout reported a significant revenue jump despite the Biosecure risk, showcasing resilience in the face of regulatory challenges.

Biosecure Threat:
The Biosecure Act proposes banning certain foreign adversary biotech companies from accessing federal funding, potentially impacting WuXi Biologics and WuXi AppTec.

Market Performance:
WuXi Biologics' stock jumped 14% in Hong Kong, and WuXi AppTec saw a 7% increase in Shanghai, following uncertainties about the Biosecure Act's legislative path.

Business Expansion:
WuXi XDC reported strong business updates with superior financial results in the first half of 2024, including a 67.6% year-over-year revenue increase and a 175.5% increase in net profit.

Customer Base Expansion:
The total global customer base expanded to 419, with 71 new customers added in the first half of 2024, and the total number of integrated projects reached 167.